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Re: [RT] Re: [TimeandCycles] The Great Bear has just begun



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with 21% of homes  in foreclousure in state of california
and banks like  countrywide   who do not hold escrow for  local tax
how  would  state get revenues  to pay their employees?
Ben
----- Original Message -----
From: hostmaster
Sent: Saturday, August 02, 2008 7:54 PM
Subject: Re: [RT] Re: [TimeandCycles] The Great Bear has just begun

I wish we could credit it to the govenor but it is the operation of law.  Our govenator continues to be a disappointment. 

As to Ben's forecast of possible public debt default, the State Controller says that is not going to happen if a budget is passed in the next several months. Large as the State of California debt service is, the payroll load is far far far larger and those savings insure adequate liquidity to continue making debt payments.

Boater8095

At 02:12 PM 8/2/2008, you wrote:

I take it as good news that California is showing a little fiscal responsibility and tring to cut expenses as they face lower tax revenues.  Had they done nothing and begun to face defaults then *that* would be *bad* news indeed. 
 
Bob

 
On 8/2/08, Ben <profitok@xxxxxxxxxxnet > wrote:
everything is REALLY bad
all employees of california state recieved a letter telling them not to come to work monday
and, if they do
they only get min wage!!!
mkt should come hard down with this news
----- Original Message -----



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